Archive for November 2007

White House Lowers Growth Forecast, Bernanke Will Cut in Dec, Riding the Oil Coaster, Crazy Chinese Laws, and More!

by Addison Wiggin & Ian Mathias The truth behind yesterday’s GDP… revealed by the last person we’d expect Bernanke all but promises December rate cut Banks of the world fire up the press… a recap of the global liquidity rush… Read More

Markets Rally… Is a Dec Rate Cut in the Cards? U.S. Foreclosures Double, Crazytown GDP Reading, Japan’s Luxury Obsession, and More!

by Addison Wiggin & Ian Mathias Foreclosures nearly double in October… housing bottom still nowhere in sight Beige Book depicts an uneasy Fed… plus Bernanke’s right-hand man gives a big nod to December rate cuts Yet multiyear-high GDP?! Details on… Read More

Freddie Mac Drops a Bomb, Housing at More All-Time Lows, Dollar Rallies, the Asian EU, and More!

by Addison Wiggin & Ian Mathias Freddie Mac drops a bomb… could housing take yet another turn for the worse? Apparently so… NAR reveals all-time-scary home sales stats The dollar rallies, pushes loonie clear back to $1.00… is this the… Read More

Dow Enters Correction, Abu Dhabi Buys Citigroup, Consumer Confidence Sinks, and More!

by Addison Wiggin & Ian Mathias The Dow officially enters “correction”… How Middle Easterners just became the largest shareholders in the U.S.’s biggest bank Citigroup to fire up to 45,000 souls… some perspective on that “massive” cut below Home prices… Read More

Black Friday Revisited, the Rising Costs of “The 12 Days of X-Mas,” a Short Play, and More!

by Addison Wiggin & Ian Mathias More shoppers but fewer sales… The story behind the “Black Friday” numbers The 5 reveals the real cost of the 12 days of Christmas… can you say “gooseflation?” Eric Fry on perhaps the greatest… Read More

Fed Speak Translated, Inflation’s Affect on Thanksgiving Dinner, $99 Oil, and More!

by Addison Wiggin & Ian Mathias The 5 translates the latest “Fed speak”… stagflation still around the bend? Average Thanksgiving feast will cost 11% more this year Dollar visits new lows, pushes oil to $99 How school teachers and firemen… Read More

Goldman and Freddie Take Big Losses, Housing Accelerates Freefall, Taj Mahal Ditches the Dollar, and More!

by Addison Wiggin & Ian Mathias Goldman puts market in a tailspin… but reveals a massive loss of its own Freddie Mac joins the billion-dollar write-down gang Housing permits, housing starts, builder confidence data revealed… and it ain’t pretty Mike… Read More

OPEC Questions the Greenback, Telling TIC Data, Citi in More Trouble, Wall Street Bonuses, and More!

by Addison Wiggin & Ian Mathias OPEC contemplates abandoning our “worthless paper” greenback 18 nations ditch the dollar… Japan and China slowly exercise their “nuclear option” Goldman downgrades Citigroup, predicts up to $15 billion in losses Wall Street I-banks to… Read More

Writedown Wrap-Up, Inflation Update, Killing For Cooking Oil, Addison’s Pants, and More!

by Addison Wiggin & Ian Mathias Lost in the write-down whirlwind? A nifty recap below… Crude hovers at $94… why oil prices stalled on their way to $100 Could Starbucks be the canary in the consumer coal mine? Kevin Kerr… Read More

Buffett Buys Banks, Rogers Slams Bernanke, Bullish Bond Movement, Chavez’s $200 Oil, and More!

by Addison Wiggin & Ian Mathias Are you ready to invest in the financial sector? Buffett is… the Oracle’s picks below Write-downs announced left and right… which banks are the latest to come clean Jim Rogers “urges you to get… Read More